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United States · Bill · HR

H.R. 420 (106th)

Social Security Surplus Protection Act of 1999

referredUnited States· United States Congress· EN

Introduced

19 January 1999

Last action

15 December 2000 · Introduced

Status

Rereferred to the House Committee on the Budget.

Sponsors

Rep. Smith, Nick [R-MI-7], Rep. McIntosh, David M. [R-IN-2], Rep. Sanford, Mark [R-SC-1]

Subjects

Taxation, Budget

Source updated

20 August 2025

Taxation · Budget

Summary

Social Security Surplus Protection Act of 1999 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require, after any sequestration of budget-year budgetary resources under discretionary spending limit or pay-as-you-go enforcement provisions, a sequestration equivalent to the estimated net surplus in the social security trust funds (Federal Old-Age and Survivors and Disability Insurance Trust Funds) for the budget year as estimated by the Secretary of the Treasury in order to reduce the public debt. Includes information on sequestration to reduce the public debt in reports issued by the Office of Management and Budget and the Congressional Budget Office. Applies this Act's amendments, beginning in FY 1999, and ceases its effectiveness after the earlier of: (1) the first fiscal year during which there is no public debt; or (2) the fiscal year during which there is enacted legislation which is determined, under Government budgeting and scoring principles, to keep social security solvent.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 19 January 1999

    Introduced

    Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 19 January 1999

    Introduced

    Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  3. 19 January 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 19 January 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 2 February 1999

    Referred

    Referred to the Subcommittee on Social Security.

    Source: Committee

  6. 9 March 1999

    Introduced

    Sponsor introductory remarks on measure. (CR H1027)

    Source: IntroReferral

  7. 31 October 2000

    Introduced

    Sponsor introductory remarks on measure. (CR H11710-11714)

    Source: IntroReferral

  8. 15 December 2000

    Introduced

    Rereferred to the House Committee on the Budget.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 19 January 1999

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 19 January 1999

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 19 January 1999

    Open at official source

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Sponsors

Related records

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Sources

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